Patrick Boyle On Finance

Send us a textIn today's podcast we discuss the top performing stocks of the last 100 years. Which countries have had the best performing stock markets, and which factors drive outperformance. Every year, in association with Credit Suisse, Elroy Dimson, Paul Marsh and Mike Staunton of London Business School, release The Credit Suisse Global Investment Returns Yearbook which analyses global market...

Send us a textIn today's podcast Patrick Boyle interviews Victor Haghani, former Long Term Capital Management Partner about Salomon Brothers in the days of Liars Poker, What it was like working at LTCM, different approaches to investing, short squeezes, arbitrage and how Victor invests today. We talk briefly about the GameStop short squeeze, Melvin Capital and why Steve Cohen and Citadel might hav...

Send us a textThis weeks podcast discusses some of the lessons that can be taken from the world of gambling that might help a trader with sizing their trades. We discuss what returns a trader might reasonably expect from the market. We look at the Kelly criterion (also known as the Kelly system or Kelly formula), to see if it can provide any insights to investors. Patricks' Books:Statistics for Tr...

Send us a textFinancial markets have been thrown into turmoil over the last week by retail investors using social media chat groups such as the Reddit forum Wall Street Bets and low-cost investment platforms to drive up shares in GameStop, a US video game retailer. In what is called a “short squeeze”, the share buyers are putting intense pressure on hedge funds such as Melvin Capital and other ins...

Send us a textJames Simons is a mathematician and cryptographer who realized that the complex math he used to break military codes could also explain patterns in the world of finance. Jim Simons has been described as "the world's smartest billionaire", amassing a fortune through the clever use of mathematics and computers. He has stepped down as the chairman of Renaissance Technologies, the most s...

Send us a textThe Dot-Com bubble was one of the largest speculative bubbles in U.S. stock market history. Here's a quick history lesson on what it was like twenty years ago. The Dot-Com Bubble was a major economic event that ultimately led to a three year bear market. The Dot-Com Bubble started in the 1990s with a rapid wave of new internet companies going public by IPO. Many of these dot-com stoc...

Send us a textJohn Law was a Scottish monetary reformer and originator of the “Mississippi scheme” for the development of French territories in America. After killing an adversary in a duel, he fled to Amsterdam, where he was a professional gambler and learned about banking operations. A decade later he returned to Scotland and wrote his best-known work, Money and Trade Considered, with a Proposal...

Send us a textWhat is a special purpose acquisition company (SPAC)? or blank check company? Should you invest in SPACs, and how do they work? A SPAC is publicly-traded shell companies that raise collective investment funds through an initial public offering (IPO) in the form of a blind pool. The funds are placed into a trust until an acquisition is made or a predetermined period of time elapses an...

Send us a textAn Interview with the leading expert on demographics and macroeconomics Manoj Pradhan. Manoj has just published a new book along with Charles Goodhart, former member of the Bank of England Monetary Policy Committee and an Emeritus professor at the London School of Economics. The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival is one of the mo...

Send us a textTodays Episode is about George Soros and Macro Investing. George Soros is the most famous Macro Hedge Fund Investor. His Theory of General Reflexivity in economics is the theory that a feedback loop exists in which investors' perceptions affect economic fundamentals, which in turn changes investor perception. The theory of reflexivity has its roots in sociology. Soros believes that r...

Send us a textMillionaire Habits That Could Change Your Life. In today’s podcast, I will share thirteen millionaire habits, things that self-made millionaires do that poor people do not. According to Fidelity, only 12% of today's millionaires in America inherited a significant portion of their wealth. One of the most effective ways to build wealth is to study those who have done so already. While...

Send us a textToday's episode is a list of my top ten books for traders, or the best finance books to read to learn about the financial industry. I decided to come up with a list of books that are not just filled with knowledge, but that are also really enjoyable reads – the kind of book that it is hard to put down. There are no university textbooks on this list, no Random Walk Down Wall Street or...

Send us a textTodays podcast is about the history of day trading and day traders. In order to better understand how markets work it is worth taking a look at the history of retail day trading, which goes back to the late 1980’s, when new technologies allowed a small group of smart and aggressive traders to take on Wall Street and win. Nasdaq market makers at the time called these traders the SOES...

Send us a textJack Schwager on the worlds greatest unknown traders. An interview with Jack Schwager, the author of The Market Wizards series of books, on his new book, Unknown Market Wizards. Jack has been involved in financial markets for over 45 years, he worked as a market analyst, a trader, managed institutional portfolios of managed accounts, and has written extensively on the futures industr...